posted on Feb, 28 2009 @ 10:20 AM
Originally posted by jfj123
Just curious but whomever is not in favor of a stimulus package, what would you do to fix the country?
* Revoke ALL of the so-called "23A Exemptions." Bernanke issued them, they need to be revoked. Safety and soundness of the banking system must
come before any one firm or group of firms. There are literally hundreds of banks that are perfectly sound. There are also a bunch of big campaign
contributing banks that are bankrupt and have been for the last eighteen months. Americans know this - the secret is out and its time to quit
* Send in the examiners. Yeah, I know, they are talking about "stress tests". Uh huh. Let's have those examinations now and forevermore in
the future be public information. If a bank wants to operate under our laws and have the privilege of fractional reserve banking, they can open their
books and examinations at all times to the public. Period.
* No more conduits, no more SIVs, no more games. If your "assets" are worth 20 cents on the dollar today that is their price. If that makes
you insolvent then you are - period. We have an FDIC and we have the authority to "cram down" failed institutions for a reason. Use it.
* Send in the cops. The actions of major institutions up and down the line since this crisis began in mid 2007 and in the years leading up to it
is at best grossly negligent and at worst felonious. We the people are done with being the patsies of a handful of thieves and frauds enabled by the
535 crooks in our Capitol. STOP IT NOW and start jailing the crooks.
The disease in our financial system is lying, too much leverage, outright fraud and hidden bankruptcy - all of it perpetrated through and with the
explicit permission of government agencies including Congress, The Executive and The Fed. We have lived beyond our means through fraud for nearly 20
years and this is no longer possible. As a direct consequence trust has been destroyed and private capital has fled our credit markets and will not
return so long as these diseases remain in the system.
Hiding the facts cannot cure the disease; the excessive debt must be defaulted; you cannot fix it by transferring where the leverage goes, such as to
Treasury or The Fed. The liars and frauds must be exposed, charged and locked up, not protected and bailed out. Standards of living will contract
and people must learn to live within their ability to earn, including the government, irrespective of politicians that think they can promise to
borrow ever-increasing sums forever.